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BIH: The latest legal twist
Birmingham International Holdings have made an announcement today to the Hong Kong Stock Exchange with reference to the legal cases against Carson Yeung and Peter Pannu.
The announcement confirms that Peter Pannu is trying to stop himself being added in a personal capacity to the lawsuit currently issued against his two companies – Asia Rays and Amazing Top International Enterprises – along with Carson.
Leave to file defence has been given and Asia Rays/Amazing Top have until November 10 to file their arguments as to why Peter Pannu should not be added. A search on the HK Judiciary website shows that the two hours reserved for the hearing to see if he should be added or not is scheduled for April 13 next year.
The announcement also confirms that Carson has filed leave to appeal against the decision not to remove the receivers and he has to file his arguments by January 12. The next hearing due in that case is to award costs on December 29.
What does this mean for Blues?
Well, on first analysis I don’t think this is good news for anyone hoping for a quick resolution in the takeover stakes. As predicted, Carson is doing everything he can to stop things – and as such it’s just going to make life more difficult. My sources in HK have told me that Carson sees no reason to let go when his final appeal approaches – if he wins that (and he has a chance of doing so), then the whole game changes again because he is no longer barred from being a director/owner of the football club.
Tags: Amazing Top International Enterprises, Asia Rays, BIH, Carson Yeung, Ernst and Young, HKSE, Peter Pannu
22 Responses to “BIH: The latest legal twist”
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Delaying tactics pure and simple from Pannu. Any court worth its salt would just add him and tell him to apply for summary judgment if the case against him is weak. Were I the receivers I might have looked to freeze his assets.
Yeung’s appeal OUGHT not to have any influence on the civil procedure, as that is independent of any FL action. The receivers are saying the shareholders are being stiffed by the majority controllers. Whether he is FPP or not doesn’t matter for that.
Does the fact that we the fans (and probably most of the club staff) don’t want Carson anywhere near our club, not resonate with him and his people? Maybe he should turn up for a game and we could let him know?
this to me is the biggest thing in all this… does he really believe that he could ever set foot in St Andrews? does he believe that people will see him as innocent even if a court does? the fact remains no bluenose will forgive him for the fact he should of had his affairs in order before he stepped foot inside OUR football club! because of all this he has shown the footballing world he is a weak businessman and no amount of money will earn him back the trust he will need to win over the fans and the rest of the footballing community.
“the fact remains no bluenose will forgive him for the fact he should of had his affairs in order before he stepped foot inside OUR football club!”
That’s not a fact – it’s just your opinion unless you’ve actually asked everyone…
In my ‘opinion’, I’d be fairly confident that if you did ask everyone, it would soon be established as fact that we don’t want him anywhere near our club!
You’d be wrong. I know people who would welcome him back.
Wow, that does surprise me. After all that’s gone on and the picture emerging of BCFC being used as a cash point, poor business management, cronyism etc what more does the guy need to do before people wake up and smell the coffee?
I’ve spoken to a lot of blues fans that have said they would have him back in an instant pointing to the fact we probably had our most successful period under him, ie cup win followed by europe & our record breaking run. He also ploughed a lot of money in for players. Don’t get me wrong i’m not defending him, but i’d love to know where we would be now if he hadn’t got banged up.
Nick, may I just point out…..
“the fact remains no bluenose will forgive him for the fact he should of had his affairs in order before he stepped foot inside OUR football club!”
He should not ‘of’ had his affairs in order – in fact he should HAVE had his affairs in order. Now we may agree!!!
I doubt very much that E&Y had any doubts that this is exactly what they expected to happen. The courts have to give the defendants every opportunity as they will only end up with more reasons to appeal if found Guilty. This is all par for the course.
As CY obviously loves throwing his money away & is so desperate to own a club ( I have left out the word football for obvious reasons ) then why not invest in the s**t across the expressway & leave us the hell alone. I’m not a religious man but I wish to god that the pair of them had never set foot in Birmingham. PP or Peter Perfect has never done a thing wrong in his life (obviously) & can’t seem to get through the day without some sort of legal wrangle going on, the man is obsessed.
I’m 64 now and have supported Blues for a long time. Do you think there’s any possibility of this totally unbelievable, ridiculous fiasco being resolved in my lifetime?? (I’m pretty healthy at the moment)
I remember when we handed Hong Kong over to the Chinese I thought it was a good thing that they agreed that the rule of law remain in HK as opposed to what happens in mainland China………I’m starting to regret that now. It’s just incredible how many legal loopholes and hoops that these parasites can exploit. It seems to me that by ensuring the legal rights of HK citizens we’ve allowed these jerks to simply take the piss. KRO
Bad news mineheadblue, CY is only 55 & the way it’s going it’s not certain to be resolved in his lifetime!!
CY has never wanted to sell our club.
Any of you whoever had the misguided belief that he want or wanted to sell are deluded.
Only hope is if Gary somehow pulls off a miracle and gets us promoted.
Listen to him tomorrow morning at 6am being interviewed by GEOFF PETERS on
“Up the League” on TALKSPORT.
BCFCOK.
I think it’s a strong possibility that we’ll be under the same stewardship this time next year. What a cheery thought.
That’s GARY ROWETT being interviewed not CY.
Thanks for those kind words chaps, I feel a lot better now.
(With regard to not CY wanting to sell, I think even my granny gets that and she’s been dead for 40 years) Keep the faith!!
I spend my lifetime enjoying watching Blues play all over the country and Europe and these morons and brainless idiots will not stop me doing what I love doing .. Carson & Peter .. Please just give up shut up and wake up .. We don’t want you anymore!!!! .. I along with most supporters will be here long after you have pissed off so stop taking liberties and making our club a laughing stock on your behalf .. We’re fine with our manager and supporters and players , we’re not fine with these petty tit for tat run ins with Bihl or e&y .. Listen , look and educate yourselves .. GO AWAY !! Kro
*round of applause*
Dear oh dear, when will this sorry mess ever get sorted? Once Gary Rowett and his coaching team have long since gone unfortunately. No wonder the club is cautious about drawing down from the TTA loan facility – at this rate it’ll have to last us another 5 years. Message for Panos – forget the cheeky, cryptic tweets deriding the club across the express way, level with us on the timescale for sorting this mess out. And let’s have proper clarity, not the vague, ambiguous waffle that was trotted out in the recent Birmingham Mail interview.
Here here
My take on this is that Peter Pannu is trying to protect himself against legal action, and the possibility of having to repay certain amounts back to the holding company.
If Asia Rays has to repay any amounts it could empty its Bank Account to Pannu and declare itself bankrupt. Hence no funds get repaid.
However its a different story if Pannu is added in a personal capacity.